scholarly journals Central Banking, Climate Change, and Green Finance

2019 ◽  
pp. 81-102 ◽  
Author(s):  
Simon Dikau ◽  
Ulrich Volz
Keyword(s):  
Climate Change ◽  
Central Banking ◽  
Green Finance

scholarly journals Green finance: Pandemic and climate change

2021 ◽  
Vol 234 ◽  
pp. 00042
Author(s):  
Igor Klioutchnikov ◽  
Oleg Kliuchnikov
Keyword(s):  
Climate Change ◽  
Green Economy ◽  
Financial Industry ◽  
Environmental Threats ◽  
Global Pandemic ◽  
Green Finance ◽  
People’S Attitudes ◽  
Long Term Impact ◽  
The Impact

In the last decade, green finance has become an important area of tackling the environmental threats associated with climate change and a prerequisite for sustainable development. The Covid-19 outbreak has drawn additional attention to green finance as an economic mechanism for creating healthy living environments. The article examines the impact of COVID-19 on the financial industry, the participation of green finance in the economic recovery after the pandemic in the direction of considering the Paris Agreement on reducing greenhouse gas emissions. The authors put forward the provision on the existence of causal relationships between the "green" financial and "green" economy: "green" finance (reason) is a mechanism for the formation of a "green" economy (consequence). The impact of green finance on society can be greatly enhanced through changes in lifestyles, the behaviour of people and companies, legislative initiatives and government decisions aimed at protecting the health and the environment; climate change and the pandemic have increased the overall fragility of development and created additional risks that are factored into green finance. The article substantiates the position that the global pandemic will have a long-term impact on people's attitudes towards the environment and on the financing of this area. As uncertainty grows about protecting people from disease and mitigating climate change, green finance may become the mainstream of finance.

scholarly journals Impact of Green Financing on Carbon Drifts to Mitigate Climate Change: Mediating Role of Energy Efficiency

2021 ◽  
Vol 9 ◽  
Author(s):  
Lei Chang ◽  
Jianhe Wang ◽  
Ziman Xiang ◽  
Hongda Liu
Keyword(s):  
Climate Change ◽  
Climate Change Mitigation ◽  
Unit Root Test ◽  
Mediating Role ◽  
Time Space ◽  
Green Finance ◽  
Mitigate Climate Change ◽  
Time Specific ◽  
Change Mitigation

Climate change mitigation (CCM) has not been mainly understood and assessed in the terms of carbon drifts persisting at provincial level of China, and to respond the question that how green financing is better financing option for CCM. Thus, our study intends to test the role of green finance on carbon drifts to manage for the mitigation of climate change. For this, unit root test and panel co-integration technique is applied. Study findings reported that the intricate connection between place-and-time-specific GHG emission reduction responsibilities is significant with 18% and the ‘production’, trading and consumption of carbon allowances with 21% and offsets across vast time-space stretches related carbon drift is significant with 19.5% for climate change mitigation. For such significance, green financing is found imperative indicators which is significant at 27.1% with carbon drifts, and mitigates the climate change with 31.3%, which is, relatively high than usual climate change control practices. Our study also provides detailed policy implication on this topicality for associated stakeholder.

scholarly journals The Costs and Trade-Offs of Green Central Banking: A Framework for Analysis

Energies ◽  
2021 ◽  
Vol 14 (16) ◽  
pp. 5168
Author(s):  
Radu Șimandan ◽  
Cristian Păun
Keyword(s):  
Climate Change ◽  
Environmental Sustainability ◽  
Financial Stability ◽  
Central Banks ◽  
Central Banking ◽  
Smooth Transition ◽  
Low Carbon ◽  
Low Carbon Economy ◽  
Macroprudential Policies ◽  
Trade Offs

The participation of central banks in the fight against climate change has recently been advanced in several academic articles and policy papers. Since the emerging consensus is that climate change poses financial risks, the envisaged green central banking has a responsibility to address environmental sustainability as a means of promoting financial stability—an increasingly accepted goal of central banks in the post-financial crisis world. Thus far, the pro side of the argument is well represented in the literature, though often the benefits remain implicit: with the help of central banks via monetary and macroprudential policies, a smooth transition to a low-carbon economy would be somehow beneficial to all of us. With this article, we aim to add to this literature by looking at the costs and trade-offs of this course of action in light of the observation that the con side of the proposal has been only marginally addressed. We put forward a framework for the analysis of the costs and trade-offs of green central banking and exemplify the applicability of this framework by studying three cases of central banks for which the transition to green operation has been advanced. We find evidence that if costs and trade-offs are taken into account, the case in favor of greening central banks becomes less straightforward than is currently conveyed in the literature.

scholarly journals Carbon Fiscal Instruments and Green Finance: An Aid to the Success of SDGs in Nigeria?

2019 ◽  
Vol 3 (02) ◽  
Author(s):  
Onanuga Olaronke Toyin ◽  
Abayomi Toyin Onanuga
Keyword(s):  
Climate Change ◽  
Comparative Analysis ◽  
Fiscal Policy ◽  
Private Sector ◽  
Green Growth ◽  
African Countries ◽  
Green Finance ◽  
Sub Saharan ◽  
The Government ◽  
Green Investments

The need to improve on the use of Fiscal Instruments and engender an improvement in Green Finance remains a challenge in Nigeria. Using the Metcalf’s Framework, this paper explains why Carbon Fiscal Instruments are enforced on emitters to check emissions and their level of effectiveness. Furthermore, a comparative analysis of Nigeria’s performance with some sub-Saharan African countries using the SDGs Index and Dashboard Indicators Framework was discussed. Finally, after appraising the use of Green Finance as a means of innovative finance, the paper found a dearth of fiscal instruments in Nigeria coupled with a low level of Green Finance opportunities. The paper concludes that Nigeria needs to design and implement an optimal climate change fiscal policy and Green Finance mix for Green growth. We recommend that the government needs to encourage creative and innovative ways of generating funds for Green investments in the private sector.

scholarly journals THE DEVELOPMENT OF THE LEGAL FRAMEWORK FOR “GREEN” FINANCE IN RUSSIA, THE EU AND CHINA: A COMPARATIVE LEGAL ANALYSIS

2020 ◽  
Vol 24 (2) ◽  
pp. 335-352 ◽  
Author(s):  
Elena P. Ermakova
Keyword(s):  
Climate Change ◽  
European Union ◽  
Legal Framework ◽  
Legal Regulation ◽  
Legal Analysis ◽  
Low Carbon ◽  
The European Union ◽  
Dialectical Logic ◽  
Green Finance ◽  
The Eu

The article is devoted to the analysis of the legal regulation of green financing in the European Union, China and Russia. It has been substantiated that a harmonious and completed system of regulatory regulation of green financing has not yet developed either in the PRC or the EU. In this regard, a comparative analysis of the above issues is of particular importance. The purpose of this article is to form an understanding of the legal framework for green finance in the European Union, China and Russia based on an analysis of regulatory acts and scientific sources. The following methods have been applied: empirical methods of comparison, description, interpretation; theoretical methods of formal and dialectical logic. Private scientific methods employed in the work are legal-dogmatic and the method of interpretation of legal norms. Results: the study showed that green financing refers to financial transactions that support the transition to an economy with low carbon emissions and the fight against climate change. In recent years, China has been the leader in green financing, accounting for 28%, or $ 32 billion, of green bonds issued in 2018. Conclusions: In the PRC, the concept and foundations of the legal regulation of green finance are enshrined in the 2016 Guide to Creating a Green Financial System. The main elements included in the concept comprise: 1) pilot areas of green financing, 2) green loans, 3) green funds and public-private partnerships; 4) green securities; 5) green insurance; 6) environmental credit trading; 7) environ-mental risks. The European Union also strives to be a global leader in the fight against climate change. A number of EU regulations and directives regulate various aspects of green financing. On December 11, 2019, the European Commission introduced the European Green Deal, a new concept for economic growth aimed at making Europe the first climate neutral continent. The most ambitious draft of this program is the development of a pan-European climate law (climate code), a draft of which is due in March 2020. Russia is still lagging behind world leaders on the regulatory regulation of green financing, but the first steps in this direction have already been taken. The study was prepared with the financial support of the Russian Federal Property Fund in the framework of the scientific project No. 20-011-00270 "а" (Scientific adviser - E.E. Frolova).

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